The Lost Colony Project is trying to use DNA to tack down any possible descendants from that colony. Also this NatGeo article explores some other possibilities. The prevailing theory is that they bugged out for Hatteras but this article posits some different (and darker) theories.

National Geographic has a good article about some evidence which has recently come to light...

Also an old map with a tiny section that had been pasted over with paper is thought to hold some clues.